Will the recent Bank One foreclosure issue affect short sales too?

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Will the recent Bank One foreclosure issue affect short sales too?

jerry

Posted on: 02nd Oct, 2010 02:50 pm

I recently heard that the Bank One foreclosures are going to put on hold in 22 states including Kentucky. Will this also affect the shortsales?

Total Reply : 1

Hi melissawilson,

Foreclosures and short sales are different processes. The foreclosure is initiated by the lenders whereas you yourself apply for a short sale. Thus, I don't think short sales will be affected in this case.

Thanks,

Jerry

jerry

Posted on: 03rd Oct, 2010 03:36 am

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